Updated Mar 11, 2025
Beacon Communities Acquires Development Site In South Boston For $78.8M
25 James O'neil St, South Boston, Ma 02127, Usa
$78,800,000
$656/SF
Building Size
120,054 SF
Asset Type
Development Site
Closing
Sep 30, 2020
About this deal
AI
A development site located at 25 James O’Neil Street in South Boston, MA has recently been involved in a closed transaction. The property, owned by Beacon Communities LLC and Boston Housing Authority, has a total of 845 units. The loan amount for the transaction was $78,800,000, provided by masshousing''>MassHousing and Chrystal Kornegay.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $78,800,000
- Address: 25 James O’Neil Street, South Boston, MA
- Market: South Boston, MA
- Units: 845
- Developer: Beacon Communities LLC – Darcy L. Jameson, Boston Housing Authority
- Lender: MassHousing – Chrystal Kornegay
The deal was facilitated by Chrystal Kornegay of MassHousing, representing the lender, and Darcy L. Jameson of Beacon Communities LLC and Boston Housing Authority, representing the developer. The transaction marks an important milestone for the development site, bringing new opportunities to the South Boston market.
On the Map
$78,800,000
$656/SF
Development Site
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Players
South Boston Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93